St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-05-13
at the Opening Yesterday Trading in
the Wheat Pit on the Chicago
Board Was Dull.
The Crowd Outside TIE Clique UI-
avaiingly Attempted 10 Break Down
Prices for the June Option,
But Got Frightened When They Saw
Their Propositions Accepted, aid
Accomplished bui Little.
Transactions in the Financial Circles
CT Wall Street.-The General
Market Review.

CHICAGO, H.. May l2-There was feel
ing this morning that wheat would break
of some Immediately ON the opening the
crowd made dive at the price that broke il
under the ste barrier for Il moment. But
kcr>haw was Il buyer of wheat as If his order
authorized him 10 stop any decline lat soc
and the market stopped at that figure.
Rosenfeldt another clique broker was buy
ing the more distant options, July and Au-
gust As the bulls ON the situation, apart
from The manipulation became more numer-
Gus and more confident, the July option
advanced on the June. 1t looks
now, il only the cl2arances Will
be abreast of June. New York and other
surrounding market were strong. The clear
uuceS AT New York were disappointment
only 49,. 365 bushels. Hutchinson was Il
discount of lsc To a discount of Al full cent
under June If il hadn' leen for the peg
giug" purchases of kershaw the market
would have broken away, as the local crowd
had gotten into decidedly bearish frame of
mind. This was shown better, however i'll
the distant than in the June option. The
wheat n ChiCagois beginning 10 move freely
over million bushels will have been ship
ped out 10y the end of the week, and the stock
here reduced about 800, 900 bushels The
stock Of wheat at Milwaukee 10y the end of
the week Will also be down 10 less than 2OO,-
600 bushels.
THE EXPORT BUSINESS
was again somewhat enormous to-day. Fifty
boat loads were worked al New York up TO l
o'clock. Nineteen boat loads of red winter
were SCld at Chicago for export, probably
part OF the fifty boat loads reported ut New
York. There was Lid for Chicago No. >
spring S2i2@ SSc, and the market was within
that OF doing very large export cash bust
ness. just now, however, the demand for
spring wheat is depressed by the offerings by
Armour Of Il great lot of Milwaukee spring
wheat, which is in poor repute. The arrival
Of large number of steamers at New York
j. likely 10 put freight room and ocean rates i'll
such shape that the clearanceS Will be more
ON Il par with the reported new export bust
desS each day. Sull the expectations are
that UOO.O 600 bu Of wheat Will clear this
week III New York against 600, 900 bu last
week The speculative situation III wheat
did mol average much. The selling by Hut
Crimson of The line he has held for several
DAYS made that option easy ut times, but in
the other markets the distant options were
advancing on the May and June. Bids were
made at S2IaGLS3c for No. > cash spring
wheat here. Il figure not far from the market.
Al New York SSc was bid for No. red win
ter, good advance. The cl ique houses GER
tainly had June pegged al sec but did not
need 10 take much. Roscufeldt was buying
good-siZed lots of August
THE ROUTINE REPORT.
CHICAGO, May 12.-Trading was very dull
IN the wheat pit early this morning and
prizes 4uI JUNE AuilS dTOJllO lllc OpthliS
figure, S6lsc. The crowd outside the clique
endeayored to break il below that figure but
there was 80 much nervousness displayed
whenever the clique house began buying that
nothing was accomplished. Prices ranged
between see and S6$s@l2c all the morning,
but the volume of trade was light. On the
afternoon board the crowd were feeling very
bearish and the clique had all they cared TO
do to keep above soc. Toward the close
June sold up 10 S6llc, Mt which figure 1t
closed There was Il continuation OF yester-
days closing weakness in corn. June
opened l4c lower, ut 367sc. The market con-
tinued weak throughout the day and 1t was
evident that the crowd had loaded up too
heavily during the bull movement of yester-
day morning and there was consequently
disposition TO sell. June corn closed at 39l2c.
Provisions were weaker; pork, lard and ribs
were all lower. In the former article there
were apparently no sales, but figures were
juggled Sl.5O per barrel lower for May and
June. The larger receipts aud lower prices
of hogs caused big decline in ribs. June
sold from $3.50 down to S7.17l2 and July
lard sold from S6.S6l2 down to S6.11l2.
THE QUOTATIONS.
The leading futures ranged us follows:
Wheat-No. = May S4Ssc, closing at S3lsc;
june, SGIsc, closing at S6l4c: July, S5l2c,
ats875c. Corn@No. , May, 3ss4c, closing
at 3SSsc: June, 397Sc, closing at 39l2c;
July, 4l5sc, closing at lac; August, 42ssc,
closing ut 42Ssc. Oats-NO. . May, 2684c,
CluSlLS at -OsSC, JUNE, -IS4C, tloaiiiS AZ
27l2c; July, 2Sl2c, closing Mt 2SSSc. Aug
ust 27lsc closing at 26s4c. Mess
pork-per bbl May, S20,5O, closing at
S2I; June, S20.5O, closing at SCI.
Lard-per 100 lbs, May, S6.72l2, closing at
S6.65 June, S6.77l2, closing at $50: July
S6.S7l2, closingat S6.77l2 August. S7;95,
closing at S6.S7l2. Short ribs-per 100 lbs,
May, S7.27l2, closing at 7.15; June, $50,
closing al S7.l7l2; July, $40, closing at
S7.27la; August, $3.50, closing at S1:31 le
Cash quotations were as follows: Flour
quiet; steady demand of local character;
Wheat--No. = spring, S45s@S47sc: No. 3
spring nominal: zoe; No . red, 85Ac; Corn
No. ., 3S$s@3Sl2c. Oats-No. ., 2GSsG0
2Gl2c. Rye-No. =, 56l2c: Barley-No. 2,
SIC. Flax Seed = No. l, Sl.G9. Prime
timothy seed. Sl.7l@1.72. Mess pork, per
Dbl, $50. Lard, per 100 lbs, $500;
Shortrib sides loose, 81. 25@7 80; dry sailed
shoulders, boxed, S5.65@I5.70; short clear
sides, boxed, S7.70@7.75. Whisky-Dis-
ullers' finished goods, per gal, Sl.10.
Sugars-Cut loaf, 6A@G5sc; graduated, &C
standard A, 55sc. ReceiptS-Flour, 1900
bbls wheat, $4,000 bu; corn, $1,000 bu;
oats. 40. 900 bu; rye, 5000 bu; barley. 20
900 bu. Shipments-Flour, 10000 bbls;
wheat, 300, 900 bu; corn, $4,000 bu; oats,
$4,000 bu; rye, 1000 bu; barley, 1000
bu. On the produce exchange to-day the
butter market was easy; creamery, 16l2@
2ll2c; dairy, l5@20c. Eggs very firm; 1Ol2
Ollie.